The development and optimal use of the renewable energy (RE) resources is central to the ADB’s Pacific Developing Member Countries’ (DMCs) sustainable energy agenda. Renewable energy is an essential part of Pacific countries’ low emissions development strategy and is vital to addressing the challenges of climate change, energy security, and access to energy. Despite considerable abundant renewable resources, Pacific DMCs have been slow to adopt renewable energy and electricity prices are among the highest in the world due to high dependency on fossil fuel in energy mix.
Regulatory regimes are crucial to capitalize on the substantial RE potential in the Pacific, reduce GHG emissions locally, improve affordability and sustainability of the power supply, and set a global example for promoting integrated RE development.
The comprehensive regulation reforms provide a window of opportunity to accelerate broader energy policy objectives leveraging private sector participation in RE investments. However, there is no one-size-fits all approach if Pacific DMCs are to meet the needs of the energy transition and decarbonize its shared regional future.
The session aims at building an understanding of inter-linkages of regulation reforms and creating an enabling environment for private sector participation in RE development in the Pacific DMCs. The session’s agenda will address the Pacific region's challenges in energy regulation and is set to define actionable solutions in sector regulation for enabling accelerated transition to a low carbon energy future.
In particular the session aims at:
Relevancy and effectiveness of regulation policy instruments such as investment/tax incentives, feed-in tariffs, net-metering/net-billing programs and other regulatory incentives for RE in the Pacific.
“Pacific context” in energy regulation design and implementation, including:
- models for effective regulation and case studies on effective application of such models.
- energy access, service quality, and tariff-setting.
- economic regulation to promote environmental sustainability, including energy efficiency and renewable energy.
- mitigating fuel cost risks and potential for hedging solutions.
The session will be for 90 minutes and will consist of speech and panel discussion.
The key objective of the session is to provide an in-depth understanding of regulatory roles towards energy transition in the Pacific focusing on fundamentals, features, new developments, main drivers and outstanding challenges of energy regulation in the Pacific DMCs.
11:00 a.m. - 12:30 p.m.
About the Organizer
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.